Cost of Living in Newark, NJ
| Cost of Living in Newark, NJ | Compared to State Average | Compared to National Average |
|---|---|---|
| Housing (Buy and Rent) | 9% higher | 41% higher |
| Utilities (Monthly) | 2% lower | 10% higher |
| Food | 1% higher | 2% higher |
| Healthcare | 2% lower | 4% lower |
| Transportation | 6% higher | 9% higher |
| Goods & Services | 2% higher | 7% higher |
The cost of living in Newark, NJ is 4% higher than the state average and 16% higher than the national average. Newark, NJ housing is 41% more expensive than the U.S average, while utilities are about 10% pricier. When it comes to basic necessities such as food and clothing, groceries are around 2% pricier in Newark, NJ than in the rest of the country, while clothing costs around 7% more .
Healthcare services such as doctor check-ups and dentistry cost 4% less here compared to the U.S. average. At the same time, non-necessary expenses such as entertainment and grooming services are 7% pricier in Newark, NJ.
Housing is the most significant expense for most American households. The cost of living in a certain city takes into account both the price of rent and the price of a home. The average monthly rent in Newark is $1,706, while home prices circle around $724,083.
Both owning and renting come with utility expenses. These costs include basic services such as energy and telecommunications. In Newark, energy bills cost around $236.04 per month.
Food is the most important necessity and its cost varies around the country. This section includes the prices of everyday foods such as produce, meat and dairy. A bottle of milk costs about $4.71 in Newark, a dozen eggs go for around $4.19 and a pound of potatoes circles around $5.37.
The benchmark for this category is based on the prices of family doctor visits and specialized services such as optometry. In Newark, an optometry check-up costs around $157.11, while a dentist appointment is priced $124.27 on average.
Transportation expenses depend on multiple factors, with fuel being the most important. A gallon of gas is priced around $3.41 in Newark, while getting your tires balanced will run you about $82.67.
The cost of clothing tells you how much more or less money you need to buy basic items such as jeans, shirts or slacks in a new city. A men's shirt costs around $33.87 here. Meanwhile, a pair of women's slacks will set you back around $47.45.
The cost of entertainment and everyday services is based on common expenses in each category. For a movie ticket in Newark, you should budget around $15.78 a month. When it comes to personal services, a haircut usually goes for $25.62, while dry cleaning costs about $13.33.
The cost of living also takes median household income into account, so you can estimate how much more or less you could be earning in a new city by comparing it to the income in your current area. In Newark, the median household income is $48,416.